The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that passed the House of Representatives on Thursday.

The Senate has passed its version of the One Big Beautiful Bill Act - with an expanded Child Tax Credit (CTC) for American families making it into the bill. The Senate approved the bill on July 1 after a marathon vote-a-rama. The bill passed by a narrow 51-50 margin, with Vice President JD Vance casting the tie-breaking vote.